Which is true - but the refi is going to cost you $3,000-$5,000 in closing costs again - which actually moves you backwards by a couple of years to recoup those costs at the $200 more per month you will make once rates get back down to 5.x%.My bet is that unless you can find some seriously undervalued real estate that your numbers won't look pretty at 8% interest (all in).  

You can probably do it in areas without zoning or farmland, but it is very difficult in a traditional residential zone.Your best bet is to look for areas along busier roads that are currently residential and turning commercial or already turned commercial with lingering residential.

Lower cost of funds at higher LTV than bringing in investorsWith the right SBA lender, you can close within 30 to 45 daysBetter fixed rate pricing with 504 program than traditionally bank financingGenerally more flexible underwriting with SBA 7a, and the right SBA lender

If you're using all cash then obviously that's not an issue.Another thing to consider is if the land has deed restrictions, checking on the city website or MLS would be your best bet there.I'd love to learn more about what you're trying to do and maybe be able to help answer any questions you might have!

I can see a scenario where I take on the risk of a high interest rate and less flexible terms for 5 years, so I can access my cash sooner if that option is there.

I need a reliable virtual address and digital mail forwarding service that can handle digital mail forwarding, scanning, and other essential business needs.I’m looking for something flexible, secure, and cost-effective.

I do agree that mechanical upgrades are a good idea if necessary, those are almost always a safe bet for ROI and resale-ability.

I bet you do a great job rehabbing!

They’re very flexible and just want to make a return on their HELOC.  

Quote from @Thomasina Pearce: Quote from @Gladimir Lobo: Heading downtown to try your luck at Jack's is a much better bet.